Zonagen (zona) - good buy? Message Board

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Biotech / Medical : Zonagen (zona) - good buy?

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To: Marty Rubin who wrote (6729)	5/12/1999 3:49:00 PM
From: Linda Kaplan	Read Replies (2) of 7041

Marty: There was a lot of hype about this stock for a long time and it's still being held up by hype. There's no substantial worth to the company. Their book value is under 5 and they have a burn rate of half their book value a year. The only drug they have that was supposedly ready for FDA approval has been deemed non-approvable and for good reason. It doesn't work and the trials were not convincing about efficacy or safety. What is there for the future of the company that justifies the current high p/e? Their earnings were only from payments from SGP and they get no more of those till approval. They aren't getting approval, so how do they get more income? Their only drug really has no value. Once the awareness of that penetrates the consciousness of those who have held the stock, I believe they will sell. No future in holding. I expected 15 but then I was hoping for 18. I have reinstituted a short position and I'm happy with it. Got STAR WARS tickets for Sat and maybe I'll try to get through for sooner ones, since this is my second lucky week in a row. BTW, PIXR is revving up. Linda

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